Following an intense winter season, the Associated Builders and Contractors' Construction Backlog Indicator (CBI) revealed a 3.2% decline during the first quarter of 2015.
According to ABC, construction firms across the country reported a revenue-weighted average CBI of 8.4 months, 0.3 months below the final quarter of 2014.
The Northeast saw its backlog decline by 10.2%, a change of 1.04 months from the fourth quarter of last year. The Middle States reported a 0.7% decline to 0.05 months in construction backlog and the West experienced a 25.3% drop or 1.88 months. The South was the only region to report an increase in construction backlog as it rose 5.9% or 0.55 months.
"Weather and a myriad of other factors always make the first quarter CBI difficult to interpret," said ABC Chief Economist Anirban Basu. "A brutal winter may have postponed project-related work, including the signing of contracts. The first quarters of 2012 and 2014 also experienced CBI declines that effectively were reversed during the ensuing second quarters."
Additionally, sharp reductions in oilfield investment affected companies in the Middle States while the West Coast port slowdown impacted firms on the western side of the country. However, the backlog should re-establish an upward trend as the year's warmer months approach and ports return to normal.
Despite the backlog decline, continued job growth, low fuel prices, and wage gains are expected to lead to an increase in consumer spending.
Related Stories
Regulations | Aug 4, 2024
Diversity rules largely ignored on Boston construction projects
Not a single construction project in Boston over the past four years has met all the rules intended to diversify the construction industry and increase the number of city residents working on construction sites, according to a report in the Boston Globe.
Education Facilities | Aug 4, 2024
A former supersonic wind tunnel becomes a new educational facility for transportation design
The Mullin Transportation Design Center at ArtCenter College of Design in Pasadena, Calif., provides access for full-scale vehicular models, replicating a professional design studio.
University Buildings | Aug 1, 2024
UC Riverside’s student health center provides an environment on par with major medical centers
The University of California, Riverside's new Student Health and Counseling Center (SHCC) provides a holistic approach to wellness for students throughout the UC Riverside campus. Designed by HGA and delivered through a design-build partnership with Turner Construction Company, SHCC provides healthcare offerings in an environment on par with major medical centers.
MFPRO+ News | Aug 1, 2024
Canada tries massive incentive program to spur new multifamily housing construction
Canada has taken the unprecedented step of offering billions in infrastructure funds to communities in return for eliminating single-family housing zoning.
Government Buildings | Aug 1, 2024
One of the country’s first all-electric fire stations will use no outside energy sources
Charlotte, N.C.’s new Fire Station #30 will be one of the country’s first all-electric fire stations, using no outside energy sources other than diesel fuel for one or two of the fire trucks. Multiple energy sources will power the station, including solar roof panels and geothermal wells. The two-story building features three truck bays, two fire poles, dispatch area, contamination room, and gear storage.
Contractors | Aug 1, 2024
Nonresidential construction spending decreased 0.2% in June
National nonresidential construction spending declined 0.2% in June, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.21 trillion. Nonresidential construction has expanded 5.3% from a year ago.
Student Housing | Jul 31, 2024
The University of Michigan addresses a decades-long student housing shortage with a new housing-dining facility
The University of Michigan has faced a decades-long shortage of on-campus student housing. In a couple of years, the situation should significantly improve with the addition of a new residential community on Central Campus in Ann Arbor, Mich. The University of Michigan has engaged American Campus Communities in a public-private partnership to lead the development of the environmentally sustainable living-learning student community.
MFPRO+ New Projects | Jul 31, 2024
Shipping containers converted into attractive, affordable multifamily housing in L.A.
In the Watts neighborhood in Los Angeles, a new affordable multifamily housing project using shipping containers resulted in 24 micro-units for formerly unhoused residents. The containers were acquired from a nearby port and converted into housing units at a factory.
Adaptive Reuse | Jul 30, 2024
Empty mall to be converted to UCLA Research Park
UCLA recently acquired a former mall that it will convert into the UCLA Research Park that will house the California Institute for Immunology and Immunotherapy at UCLA and the UCLA Center for Quantum Science and Engineering, as well as programs across other disciplines. The 700,000-sf property, formerly the Westside Pavilion shopping mall, is two miles from the university’s main Westwood campus. Google, which previously leased part of the property, helped enable and support UCLA’s acquisition.
Contractors | Jul 30, 2024
Barton Malow is celebrating its 100th anniversary with a road show
A traveling exhibit will make 30 stops this summer and fall, many at project sites.
